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Lennox International Inc. (NYSE: LII) is a global leader in energy-efficient climate control solutions, offering a wide range of products for heating, ventilation, air conditioning, and refrigeration (HVACR). Headquartered in Texas, Lennox operates primarily in North America, having divested its European businesses in late 2023.
Lennox's operations are divided into three segments: Residential Heating & Cooling, Commercial Heating & Cooling, and Refrigeration. The residential segment provides furnaces, air conditioners, heat pumps, indoor air quality equipment, and comfort control products, primarily for the replacement and new construction markets. The commercial segment offers unitary heating and air conditioning equipment, applied systems, controls, and service for light commercial markets. The refrigeration segment delivers innovative products for retail food chains and other industrial applications.
In 2023, Lennox reported a revenue of $5 billion, with residential HVAC contributing 68% and commercial HVAC and Heatcraft refrigeration making up the remaining 32%. The company achieved significant financial successes, including a 20% increase in operating income and notable advancements in supply chain resiliency and factory production efficiency.
Lennox's commitment to innovation and sustainability is evident in its recent initiatives. The company has introduced the Lennox Ultimate Comfort System™ and the S40 Smart Thermostat, both recognized with industry awards for their advanced technology and design. Additionally, the transition to low global warming potential (GWP) refrigerants is a strategic move towards reducing environmental impact, with new products set to meet the 2025 refrigerant regulations.
In 2024, Lennox formed a joint venture with Samsung to offer ductless AC and heat pump products in the United States and Canada. This partnership capitalizes on the strengths of both companies, aiming to provide comprehensive HVAC solutions to a broader customer base.
Financially robust, Lennox reported record fourth-quarter revenue of $1.2 billion in 2023, with operating income up 41% to $185 million. The company projects continued growth in 2024, with anticipated revenue increases driven by price and favorable product mix.
For more information, visit www.lennox.com or contact Investor Relations at investor@lennox.com.
Lennox International (NYSE: LII) has announced a 19% increase in its quarterly cash dividend, raising it to $0.92 per share. This dividend will be paid on July 15, 2021, to stockholders on record by June 30, 2021. The decision reflects the company's commitment to returning value to its shareholders while maintaining its leadership in energy-efficient climate-control solutions. Lennox International specializes in innovative products that enhance comfort and sustainability in residential and commercial settings.
Lennox International (NYSE: LII) will be represented by Chairman and CEO Todd Bluedorn at the Goldman Sachs Industrials & Materials Conference 2021. The virtual presentation is scheduled for May 11, 2021, starting at 12:10 p.m. Eastern time. Interested parties can access the live webcast and materials on the company's website. Lennox International specializes in energy-efficient climate control solutions, focusing on sustainability and innovation for residential and commercial environments.
Lennox International (NYSE: LII) introduced the Model L packaged rooftop line at its inaugural Commercial Product Showcase. This HVAC system features the innovative Lennox CORE Control System and Service App, a finalist in the 2021 AHR Expo Innovation Awards. With industry-leading efficiency ratings, the Model L offers both gas-electric and electric-electric units ranging from 3 to 25 tons. Its advanced diagnostic capabilities and integration with third-party systems underscore Lennox's commitment to innovation and energy efficiency.
Lennox Industries, known for over 125 years, introduced updates to its Ultimate Comfort System, enhancing home heating and cooling. A recent survey indicated 61% of homeowners prioritize air quality, with many willing to invest in improvements. The Ultimate Comfort System promises superior air quality through features like variable speed systems for consistent airflow, energy-efficient appliances, and quiet operation. Key offerings include the SLP99V Gas Furnace and SL28XCV Air Conditioner, which achieve high efficiency ratings. This development underscores Lennox's commitment to health-focused indoor environments.
Lennox International (LII) reported record first-quarter revenue of $931 million, marking a 29% increase year-over-year. Operating income rose 213% to $114 million, while earnings per share from continuing operations reached $2.20, a 588% increase. The Residential segment saw a 37% revenue increase, driven by strong demand in both replacement and new construction. The company has raised its 2021 guidance for revenue growth to 7-11% and adjusted EPS to a range of $11.40-$12.00. Free cash flow guidance was increased from $325 million to $375 million.
Lennox International Inc. (NYSE: LII) announced plans to report its first quarter 2021 financial results on April 26, 2021, before the market opens. A conference call will follow at 8:30 a.m. Central time, featuring Chairman and CEO Todd Bluedorn and CFO Joe Reitmeier discussing the financial results and outlook. Interested parties can listen via phone or webcast. A replay will be available from 11:00 a.m. Central time on the same day until May 10, 2021. Lennox focuses on energy-efficient climate-control solutions, promoting sustainability and innovation.
Lennox Industries unveiled its new PureAir™ and PureAir™ S Air Purification Systems, featuring the Healthy Climate™ Carbon Clean 16® air filter, capable of eliminating over 99% of the COVID-19 virus from indoor air. These hospital-grade systems also effectively remove larger particles such as mold spores and dust. The announcement reflects Lennox's commitment to air quality, especially during the pandemic. Independent testing has verified the filter's efficiency, reinforcing Lennox's position as a leader in HVAC technologies. For more details, visit Lennox.com/Residential.
The board of directors of Lennox International (NYSE: LII) announced a quarterly cash dividend of $0.77 per share, payable on April 15, 2021. Stockholders of record as of March 31, 2021 are eligible for this dividend. Lennox International is renowned for its energy-efficient climate-control solutions, focusing on sustainability and comfort for both residential and commercial customers. The company leads in innovation within the industry, contributing to reduced carbon footprints through advanced air conditioning, heating, and refrigeration systems.
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